“Americanism is using money you haven’t earned to buy things you don’t need to impress people you don’t like.” – Robert Quillen, 1928, Detroit Free Press

Sound familiar? We’ve all heard variations of this quote, yet somehow we keep falling into the same trap. We throw money into what I call “The Money P.I.T.” – and no, I’m not talking about that house that needs endless repairs or the boat you swore would bring you joy (though boat owners, you know what I mean about those two best days!).

We Have a Problem

Let me hit you with some sobering statistics:

• American households carry $18.2 trillion in debt – that’s $53,000 per person
• Over 11 million children in America live below the poverty line
• Over 20 million U.S. adults are problem gamblers
• Americans spent $264 billion on gambling in 2023 alone
• Among problem gamblers, suicide rates are 15 times the national average

Our relationship with money isn’t just unhealthy – it’s literally killing us.

Continue reading → The Money P.I.T.: When Your Wallet Becomes a Trap